Naftogaz raises gas prices for industry by almost 20% from Nov 1

National Joint-Stock Company Naftogaz of Ukraine will raise minimum prices of natural gas for industrial consumers from November 1, 2019, by 19.6%, from UAH 5,878.8 (US$238) per 1,000 cubic meters in October 2019 to UAH 7,033.2 (US$284).

Read alsoUkrtransgaz completes upgrade of gas pipeline on border with Poland for reverse supplies

At the same time, the maximum prices of natural gas for industrial consumers will be increased by 18.6% as of November 1, 2019, from UAH 6,549.6 (US$265) per 1,000 cubic meters to UAH 7,755.6 (US$314), the company said in a statement.

"The change [in prices] is due to rising gas prices in the European market, where Ukraine imports gas from. So, prices of gas at European hubs with delivery in November exceed the current ones by almost half," the company's press service said on October 18.

Naftogaz quotations vary depending on the volume of purchase and payment terms, it said.

If a buyer has no debts before Naftogaz or intends to buy at least 50 million cubic meters of gas per month, the minimum price is applicable. In other cases, buyers are to pay a higher price.

All prices are VAT included.

As UNIAN reported earlier, in September, Naftogaz decided to maintain the prices of natural gas for industrial consumers at UAH 5,568 ($225) per 1,000 cubic meters set in August.

UNIAN memo. NJSC Naftogaz of Ukraine is the largest state-run vertically integrated oil and gas holding whose subsidiaries account for about 90% of oil and gas production in Ukraine. Naftogaz develops oil and gas fields, produces crude oil and natural gas. Its core business is also transportation and trade in fuel through its own network of filling stations.